How can you make a competitive offer against all-cash homebuyers?

It’s getting harder to win a bidding war these days. People who need financing—about 66% of homebuyers—as well as those with smaller down payments often have trouble competing with all-cash buyers who are able to entice sellers with clean offers and speedy closings.

Does this mean a solid buyer shouldn’t attempt to compete with cash buyers?

Absolutely not. The truth is that a buyer getting a mortgage can still compete against cash buyers and win. These are the questions that can make all the difference:

  • How much are you putting down for a down payment?
  • Are there any other programs that you qualify for?
  • Are you well employed?
  • Do you have any cash reserves in addition to your down payment?
  • Do you have very little debt?
  • Do you have good credit?

If you answered yes to most or all of these questions, your purchase should be as bulletproof as a cash homebuyer’s, but you still want to try to stand out from the crowd.

“How can you make a competitive offer against all-cash homebuyers? It’s getting harder to win a bidding war these days. People who need financing—about 66% of homebuyers—as well as those with smaller down payments often have trouble competing with all-cash buyers who are able to entice sellers with clean offers and speedy closings. Does this mean a solid buyer shouldn’t attempt to compete with cash buyers? Absolutely not. The truth is that a buyer getting a mortgage can still compete against cash buyers and win. These are the questions that can make all the difference: How much are you putting down for a down payment? Are there any other programs that you qualify for? Are you well employed? Do you have any cash reserves in addition to your down payment? Do you have very little debt? Do you have good credit? If you answered yes to most or all of these questions, your purchase should be as bulletproof as a cash homebuyer’s, but you still want to try to stand out from the crowd. One strategy people are using to be more noticeable and to compete with all-cash buyers in this hot real estate market is writing a letter to a seller. It isn’t easy to compose a letter engaging and personal enough to convince the recipient that they should award the house to you instead of someone else. However, in this extremely active market with many all-cash buyers, your meaningful words could make the difference between getting the home you’ve dreamed of and having to go to another showing. If you want to plus-one this idea, add in a favorite picture of you, your family, and even your pets. Do you need some help composing a letter to a seller? Have you been beaten out when writing an offer and are now tired of running around the market? Do you know somebody else who’s thinking about buying? If you said yes to any of these, feel free to reach out to us. The Dailey Group is here to help you and those you care about move with confidence.”

One strategy people are using to be more noticeable and to compete with all-cash buyers in this hot real estate market is writing a letter to a seller. It isn’t easy to compose a letter engaging and personal enough to convince the recipient that they should award the house to you instead of someone else. However, in this extremely active market with many all-cash buyers, your meaningful words could make the difference between getting the home you’ve dreamed of and having to go to another showing. If you want to plus-one this idea, add in a favorite picture of you, your family, and even your pets.

Do you need some help composing a letter to a seller? Have you been beaten out when writing an offer and are now tired of running around the market? Do you know somebody else who’s thinking about buying?

If you said yes to any of these, feel free to reach out to us. The Dailey Group is here to help you and those you care about move with confidence.